Euro vs United States Dollar (FX:EURUSD)
2 Years : From May 2011 to May 2013
The euro that largely showed choppy trading in Asian deals on Friday began recovering its previous day's losses against most major currencies in the early European session as regional stock markets opened slightly higher.
European stocks rose mildly as investors look to consolidate previous session gains while retaining a cautious approach given the euro zone's debt problems.
Germany's DAX rose 0.3 percent in early deals, France's CAC 40 index and U.K.'s FTSE 100 index gained 0.2 percent each.
In economic news, a survey by market research group GfK showed that confidence among German consumers is likely to stay unchanged in June. The consumer confidence index for June was at 5.7, unchanged from the revised reading of May. The May score was revised from 5.6 reported previously.
The euro is currently worth 1.2578 against the dollar, up 0.5 percent from a fresh 22-month low of 1.2517 hit in European deals yesterday. If the euro-dollar pair advances further, it may test resistance around the 1.260 level in near term.
The euro followed a similar trend against the yen, recovering from a fresh multi-month low of 99.39 and hit as high as 100.24. The next upside target level for the euro-yen pair is seen at 100.6.
Against the pound, the euro that fell to a 1-week low of 0.7998 in late New York session on Thursday rebounded today. As of now, the euro-pound pair is worth 0.8028 with 0.804 seen as the next upside target level.
Meanwhile, the euro pulled back against the franc after hitting as high as 1.2040 in early Asian deals. The euro-franc pair is currently worth 1.2020.
In the New York morning session, the Reuter and the University of Michigan's final report on the consumer sentiment index for May is scheduled to be released at 9:55 am ET.